EOG Resources Inc (EOG)
Working capital turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 24,186,000 | 24,548,000 | 25,929,000 | 27,763,000 | 25,702,000 | 25,027,000 | 22,199,000 | 18,931,000 | 18,642,000 | 15,563,500 | 13,044,500 | 10,008,500 | 11,032,500 | 12,387,250 | 14,444,710 | 18,039,340 | 17,379,980 | 17,634,270 | 18,112,430 | 17,652,880 |
| Total current assets | US$ in thousands | 9,935,000 | 10,258,000 | 8,906,000 | 9,184,000 | 10,475,000 | 10,201,000 | 8,153,000 | 8,479,000 | 8,584,000 | 7,349,000 | 6,935,000 | 6,191,000 | 5,862,000 | 5,095,060 | 4,597,390 | 6,491,050 | 5,273,340 | 4,819,730 | 4,495,520 | 4,907,880 |
| Total current liabilities | US$ in thousands | 4,074,000 | 4,225,000 | 3,731,000 | 4,228,000 | 5,513,000 | 5,746,000 | 5,768,000 | 6,264,000 | 4,042,000 | 3,484,000 | 4,002,000 | 3,312,000 | 3,460,000 | 3,020,040 | 2,154,380 | 4,305,010 | 4,486,990 | 4,473,710 | 4,414,060 | 4,301,270 |
| Working capital turnover | 4.13 | 4.07 | 5.01 | 5.60 | 5.18 | 5.62 | 9.31 | 8.55 | 4.10 | 4.03 | 4.45 | 3.48 | 4.59 | 5.97 | 5.91 | 8.25 | 22.10 | 50.96 | 222.35 | 29.10 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $24,186,000K ÷ ($9,935,000K – $4,074,000K)
= 4.13
The working capital turnover ratio for EOG Resources, Inc. fluctuated over the past eight quarters, indicating the efficiency with which the company is utilizing its working capital to generate revenues.
The ratio was highest in Q2 2022 at 10.70, showcasing a robust utilization of working capital during that period. This suggests that the company was able to generate significant sales revenue relative to its working capital investment.
Subsequently, there was a notable decline in the ratio in Q3 and Q4 2022, but it started to improve in 2023. The ratio in Q1 2023 was 5.01, indicating a moderate increase in efficiency compared to the previous quarters but still trailing behind the peak in Q2 2022.
The working capital turnover for Q4 2023 stands at 4.11, reflecting a decrease compared to the previous quarter. Although the ratio is lower than the peak in Q2 2022, it remains higher than some of the other periods in the dataset.
Overall, the trend in the working capital turnover ratio for EOG Resources, Inc. suggests variations in the company's ability to efficiently utilize its working capital to support sales activities over the analyzed period.
Peer comparison
Dec 31, 2023